U.S. stocks opened lower Thursday, as investors assessed data showing a slight rise in jobless claims as well as an economic report on labor productivity during the second quarter. The Dow Jones Industrial Average DJIA, -0.29% was down 0.3% soon after the bell, while the S&P 500 SPX, -0.43% fell 0.
4% and the Nasdaq Composite COMP, -0.25% dropped 0.5%, according to FactSet data, at last check. Initial jobless claims rose by 6,000 to 227,000 in the week ended July 29, according to a Department of Labor report Thursday. Meanwhile, labor productivity increased during the second quarter at a 3.7% annual rate, the U.S. Bureau of Labor Statistics said Thursday.
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